india's-hcl-tech-tumbles-6%-after-downbeat-revenue-forecast

BENGALURU : Shares of HCL Technologies Ltd fell as much as 6 per cent on Friday, in their sharpest intraday drop since mid-May, after the IT services firm said it expects revenue for the full year to be at the lower end of its guidance.

Speaking in New York on Thursday, HCL Chief Executive C. Vijayakumar said he expects revenue growth for the year ended March 31, 2023 to be at the lower end of its 13.5 per cent-14.5 per cent guidance due to furloughs and drop in spending in some sectors.

 

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